Junk status for Africa’s two biggest economies will hit overall growth

According to Royal Institution of Chartered Surveyors’ (RICS) South Africa country manager TC Chetty, the recent credit rating downgrades by global ratings agencies will negatively affect Africa’s two biggest economies – South Africa and Nigeria, and hit Africa’s overall economic growth. TC Chetty, South Africa country manager for the Royal Institution of Chartered Surveyors (RICS). […]

Nigeria: Securities Commission set up Investors Protection Fund

The Securities and Exchange Commission (SEC), has leveraged further investors’ confidence and mitigation of losses on the nation’s bourse with the inauguration of a National Investors Protection Fund (NIPF). The quasi investors’ insurance scheme worth, N5 billion, would serve as a buffer for compensating investors for pecuniary losses, liquidation, insolvency, bankruptcy or negligence of non-broker/dealer […]

Global Investor ACTIS takes majority stake in Nigerian pension firm Sigma

Lagos — ACTIS, a global pan-emerging markets investor, has acquired a majority stake in Sigma Pensions in a transaction valued at US$62 million. Sigma is a leading pension fund administrator (PFA) in Nigeria. Natalie Kolbe, Partner at Actis, said building on their extensive experience in the asset management and distribution sector, they were excited to […]

GTBank unveils Nigeria’s first virtual MasterCard

Guaranty Trust Bank plc has reaffirmed its position as a leading provider of e-payment gateway solutions with the recent launch of its Virtual Prepaid MasterCard. The card which is issued instantly via Internet Banking, provides an added comfort for security conscious online shoppers who prefer not to use their regular debit/credit cards when making online […]

Nigeria Lost $50 Billion Investment Over Non-Passage of Petroleum Industry Bill

Mr. Sergius Oseasochie is the Managing Director/CEO, Relentech Integrated Services Ltd, Nigeria. He was recently elected into the House of Representatives to represent Esan North-East/Esan South-East of Edo State. In this interview with Ediri Ejoh, he lamented the non-passage of the Petroleum Industry Bill (PIB) by the seventh National Assembly and also emphasized the need […]